Avenue Supermart, Zomato, Jet Airways, Apollo Hospitals, Gokaldas Exports and LT Foods among top stocks to watch today

Stocks to watch: Indian benchmark indices started the week on a high note on Monday as the S&P BSE Sensex and the Nifty 50 ended their respective sessions higher amid sell-offs in heavyweights such as Reliance Industries (RIL), Nestle India, and ITC. At close, the S&P BSE Sensex stood at 64,996.60, up 110 points, or 0.17 per cent, while the headline Nifty50 index settled at 19,306.05, up 40 points, or 0.21 per cent from the previous close.

As the market ended the day on a higher note, the day's most buzzing event was the annual general meeting (AGM) of Reliance Industries Limited (RIL), where chairman Mukesh Ambani announced that he would remain chairman and MD of the company for the next five years.

During the same AGM, Isha, Akash, and Anant Ambani were appointed to the Reliance board, while Nita Ambani stepped down from the board. Mukesh said that Jio Platforms was keen to lead efforts in developing India-specific AI models and AI-powered solutions.

Among other developments of the day, Vedanta shares rose after the mining giant won big in arbitration against the government; JK Lakshmi Cement shareholders rejected the proposal to increase the inter-corporate transaction limit to Rs 10,000 crore; the National Company Law Appellate Tribunal (NCLAT) on Monday extended the time till September 30 for Jalan-Kalrock Consortium to pay Rs 350 crore to the lenders of Jet Airways; Shell India announced the appointment of Mansi Madan Tripathy as the new country chair of the company; and real estate portal Housing.Com on Monday said it had tied up with global insurtech player BOXX to offer a cyber security plan for protecting its customers from digital fraud.

At around 8:05 am on Tuesday, August 29, the GIFT Nifty futures traded 23.95 points higher, or 0.12 per cent at 19,338.5, suggesting a flat to positive opening of the market. 

ZeeBiz takes you through a list of stocks that can be in the limelight on Tuesday, August 29, 2023.

Results on August 28: 

SBFC Finance, Unitech, HMA Agro, Transindia Real Estate, Gillette, and Revathi Equipment will declare their June quarter numbers today. 

RIL

The AGMs of RIL are famous for big-ticket announcements, and its meeting on Monday lived up to its reputation.

Mukesh announced that he would remain chairman and MD of RIL for the next five years.

While his wife Nita resigned from the board, his children Isha, Akash, and Anant Ambani were appointed to the board.

Among other developments in the AGM, Mukesh announced Jio Financial Services, which got listed recently, would enter the insurance sector; introduced an affordable Jio Bharat smartphone at Rs 999; said that Jio AirFiber would be launched on Ganesh Chaturthi (September 19, 2023); and also spoke about JioHome, a smart mobile app to navigate one's television connected to a Jio Set-top Box.

Jio Financial Services

The fall in the share of Jio Financial Services was the lowest on Monday since its launch last week. The share fell 0.28 per cent to close at Rs 211.65. It came on a day when Mukesh announced that the company would enter the insurance sector. It will be interesting to see if the share ends Tuesday on a high note for the first time in its short-share market history.

Zomato  

Internet Fund III PTE sold 12.35 crore shares (1.44 per cent) at Rs 91.01 apiece. Apoletto Asia sold 3.19 crore shares at Rs 90.10 per share. 
  
Many companies also bought the shares of Zomato. Total buy size was Rs 1,389 crore.

Gokaldas Exports 

Gokaldas Exports to acquire Atraco Group through subsidiaries Gokaldas Exports FZCO, Dubai, and Nava Apparels L.L.C-FZ, Dubai. 

Jet Airways 

The NCLAT on Monday extended the time till September 30 for the Jalan-Kalrock Consortium to make a payment of Rs 350 crore to the lenders of the bankrupt Jet Airways.

A three-member NCLAT bench accepted the plea of the consortium to extend the timeline and also for an adjustment of Rs 150 crore from the performance bank guarantee (PBG) towards a payment of Rs 350 crore.

Apollo Hospitals

Apollo Group said on Monday it would expand its connected care programme across the country.

Apollo Connect aims to create the largest connected healthcare ecosystem in the country, empowering hospitals and nursing homes across metros and non-metros to offer holistic and superior patient care, the healthcare major said in a statement.

Through this programme, Apollo's partner hospitals will be able to enhance the services they offer patients, achieve superior clinical outcomes, improve patient retention, save costs, and strengthen business performance.

Auto Stocks

India's automotive industry is poised to rank third in the world by 2030, with various schemes like the Rs 25,938 crore PLI for Automobile and Auto Components supporting the sector's growth, the government said on Monday.

The Ministry of Heavy Industries (MHI) is organising a conference on Tuesday to review the performance of the Production-Linked Incentive-Auto Scheme.

The meeting with stakeholders will be chaired by Heavy Industries Minister Mahendra Nath Pandey.

Prominent auto stocks such as Tata Motors, Hero MotoCorp, Bajaj Auto, and Eicher Motors are expected to be in focus on Tuesday.

LT Foods

LT Foods Ltd on Monday that the government's decision to impose a minimum export price on basmati rice at USD 1,200 per tonne will not impact the company's outward shipments.

On Sunday, the commerce ministry said it had directed the trade promotion body APEDA not to register contracts below USD 1,200 per tonne. 

APL Apollo Tubes

Promoters can sell up to 26.3 lakh shares (0.85 per cent) in the company through a block deal. The base size of the deal is Rs 303 crore and the greenshoe option of Rs 116 crore. The floor price is set at Rs 1,595 apiece. The total promoter holding in the company is 30.62 per cent.

Birla Tyres / Dalmia Bharat Group

Dalmia Bharat Group may buy Birla Tyres, as per reports. Dalmia Bharat Refractories' resolution plan is approved by creditors. Dalmia Bharat Refractories had given a resolution plan of Rs 1,100 crore.

Indiabulls Housing Finance 

The company repaid the bonds worth Rs 1,112.5 crore which were availed in August 2013. Loan portfolio inflow will increase debt repayment from Rs 1,300 crore to Rs 1,800 crore in a quarter. 

SJVN  

SJVN's subsidiary SJVN Green Energy Limited (SGEL) bagged an order for three solar power projects of 320 MW each in Assam estimated at Rs 1900 crore. These three solar power projects will be developed on a Build Own and Operate basis. The project is expected to be commissioned within 18 months by March 2025.

Defense/ Space companies

ISRO will launch Aditya L-1 on September 2. 

NBCC (India)  

The company received an order of Rs 66.3 crore from the Indian Medical Association. The order was awarded for planning, designing, and executing of IMA House in Delhi. The company has to complete the order in 30 months.

KRBL

The buyback offer will be open from August 31 to September 6.

Piramal Enterprises 

The company is to achieve a 3 per cent to 3.3 per cent Return on assets at the consolidated level by FY28.

LTIMindtree 

The company tied up with CAST AI, a SaaS company. This partnership will help companies save an average of over 60 per cent on cloud costs.

HCL Tech 

The agreement with the cloud software group for providing and upgrading services of TIBCO Solutions. TIBCO is the automation software provider.

JK Lakshmi Cement 

Shareholders rejected the proposal to increase the inter-corporate transaction limit to Rs 10,000 crore. 

Federal Bank 

Shareholders rejected the Employee stock ownership plan 2023 extension resolution. 

Glenmark Pharma 

The US recalled 1,200 bottles of generic hypertension drugs.

Som Distilleries and Breweries 

Jagdish Kumar Arora and Deepak Arora increased their stake through preferential allotment of warrants, their stake increased from 34.43 per cent to 40.68 per cent. 

PG Electroplast

The company launched Qualified Institutional Placement (QIP). The floor price is set at Rs 1641.09 per share. The issue price of QIP will be considered in the board meeting on September 1.

Adani Group stocks 

Supreme Court to hear Adani-Hindenburg case.

Tatva Chintan Pharma

The board will consider issuing a price for QIP.

Star Health 

Non-Promoter, University of Notre Dame Du Lac sold 1.67 crore shares (2.86 per cent), and Non-Promoter, Mio IV Star Sold 34 lakh shares.

On the other hand, Fidelity Investment Trust Fidelity Series Emerging Markets Fund bought 1.23 crore shares. ICICI Prudential Life Insurance Company bought 39 lakh shares and Fiam Emerging Markets Opportunities Commingled Pool bought 32.45 lakh shares.

Avenue Supermart (DMart)

UBS upgraded the rating from sell to buy and raised the target price from Rs 3,700 apiece to Rs 4,700 apiece. The brokerage expects strong operational performance.

Pyramid Technoplast- IPO Listing

Shares of Pyramid Technoplast will be listed on BSE and NSE today. 

(With inputs from PTI)

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